Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Analyst Bumps Up Clearside Biomedical Target Price After Encouraging Trial Data

Published 10/11/2022, 18:24
Updated 10/11/2022, 19:41
© Reuters.  Analyst Bumps Up Clearside Biomedical Target Price After Encouraging Trial Data

© Reuters. Analyst Bumps Up Clearside Biomedical Target Price After Encouraging Trial Data

Benzinga -

  • Wednesday, Clearside Biomedical Inc (NASDAQ: CLSD) announced positive results from its OASIS Phase 1/2a trial of CLS-AX (axitinib injectable suspension) in neovascular age-related macular degeneration (wet AMD) patients.
  • HC Wainwright views the 6-month results as very encouraging, considering that the enrolled patients have active subfoveal choroidal neovascularization (CNV) secondary to AMD with fluid.
  • Hence the analyst has increased the probability of approval for CLS-AX to 25% from 20%, with the current estimated market value of the firm being $390 million, reiterating the Buy rating with a raised price target of $6 from $5.
  • CLS-AX was well tolerated and showed a benign safety profile across all time points and doses. Interim data from the Extension Study in Cohorts 3 and 4 showed that the supplemental anti-VEGF injection-free rate was 88% (7 of 8 patients) to Month 5 and 75% (3 of 4 patients) to Month 6.
  • Compared to patients’ 6- month anti-VEGF therapy before receiving CLS-AX, there was a 90% reduction in treatment burden.
  • Management expects to report the final 6-month data from all 12 patients in the Extension Study in 1Q23.
  • Price Action: CLSD shares are up 4.69% at $1.34 on the last check Thursday.
Latest Ratings for CLSD DateFirmActionFromTo
Mar 2022JMP SecuritiesMaintainsMarket Outperform
Jul 2021HC Wainwright & Co.Initiates Coverage OnBuy
Jun 2021WedbushMaintainsOutperform
View More Analyst Ratings for CLSD

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.